Investing.com - The New Zealand dollar rose against its U.S. counterpart on Monday, as sentiment on the greenback remained vulnerable after Friday's downbeat U.S. data fuelled concerns over the strength of the economy.
Trading volumes were expected to remain thin as markets in New Zealand were to remain closed for a holiday.
NZD/USD hit 0.7638 during late Asian trade, the pair's highest since April 23; the pair subsequently consolidated at 0.7617, gaining 0.29%.
The pair was likely to find support at 0.7540, the low of April 24 and resistance at 0.7666, the high of April 23.
The greenback remained under pressure after the Commerce Department reported Friday that orders for durable goods, excluding aircraft, fell 0.5% in March, after a downwardly revised 2.2% drop in February.
The headline figure rose 4.0%, beating expectations for a 0.6% gain, but investors focused on underlying weakness in the report.
The data came after recent weak reports on home sales, retail sales and industrial production, adding to signs of a slowdown in economic growth since the start of the year.
The weak data led investors to push back expectations on the timing of an initial rate hike by the Federal Reserve.
The kiwi was higher against the Australian dollar, with AUD/NZD declining 0.43% to 1.0253.